FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 6: Measuring and Reporting Cash Flows

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 21

Multiple Choice

Review LaterAdd Note

Review Later

University Press showed wage and salary expenses of $250,000 on its 2015 statement of comprehensive income but reported cash paid to employees of $215,000 on its statement of cash flows.If the beginning balance of accrued wages and salaries payable was $18,000,the ending balance is:

A) $53,000.
B) $45,000.
C) $35,000.
D) $17,000.

Correct Answer

verified

Show Answer

Question 22

Multiple Choice

Review LaterAdd Note

Review Later

Under accrual accounting,the receipt of cash from a trade debtor will:

A) have no impact on profit and increase cash.
B) increase profit and increase cash.
C) decrease profit and decrease cash.
D) none of the above.

Correct Answer

verified

Show Answer

Question 23

Multiple Choice

Review LaterAdd Note

If the balance of the share capital account is $300,000 at the beginning of the year and $410,000 at the end of the year,and there has been a 1 for 6 bonus issue of shares at the start of the year,the amount that will appear in the statement of cash flows for proceeds from the issue of shares is:

Which statement is correct?

Calculate the cash from operating activities using the following information: Profit $142,000. Depreciation $46,000. Accounts receivable increased by $10,000. Accrued expense increased by $12,000. Inventory increased by $14,000.

A transaction that would not appear in a statement of cash flows is:

All purchases of inventory are for cash.If inventory at the beginning of the year is $63,000 and at the end $88,000 and the cost of sales is $200,000,the cash paid for inventory purchased for the year is:

The effect on profit and cash of depreciating a non-current asset is:

The difference between operating profit or loss after tax and net cash provided by operating activities is due to:

State the effect on profit and cash of a firm paying a trade creditor.

Calculate net cash flow from operating activities if: Statement of financial performance (extract) $\begin{array}{ll}\text { Sales (credit) } & \$ 70,000 \\\text { Less Expenses (cash) } & \$ 48,000 \\\text { Profit } & \$ 22,000\end{array}$ $\text { Ledger acount (extrat) }$ $\begin{array}{ll}&\text { Start of } & \text { End of } \\&\text { Period } & \text { Period }\\\text { Accournts }\\\text { Receivable }&\$6,000&\$9,000\end{array}$

An example of a non-cash investing or financing transaction is:

Cash inflows and outflows associated with changes in non-current liabilities and equity,not arising from profit,are included in which section of the statement of cash flows?

The statement of cash flows must include a note reconciling:

The report prepared to summarise the entity's cash transactions for the period is the:

All of the following are operating cash flows except:

Operating activities are concerned with:

The cash transaction is:

An extract from the trial balance of RRR Pty Ltd as at 30 June 2015 shows: Income tax expense $20,000 If the income tax provided for at the end 2014 was $16,000 and taxation is paid in arrears in a lump sum,what amount will appear in the statement of cash flows for taxation paid by RRR Pty Ltd for the year ended 30 June 2015?

If $80,000 is owed by customers at the beginning of the year,$75,000 is owed at the end and credit sales are $120,000,the cash received from customers is: